The financial services industry is undergoing a massive transformation. Financial technology companies, fintechs, are challenging traditional enterprises and players from other sectors such as retail and technology are entering their turf. Data is at the center of this transformation. Like all sectors, the power of data in financial services helps institutions across the industry – from retail banks to mortgage brokers – offer products, services and experiences that exceed customer expectations. A recent McKinsey study showed that data flows now exert a larger impact on a countries GDP growth than the centuries-old trade in goods.